New Delhi looks to privatise Shipping Corporation of India

New Delhi looks to privatise Shipping Corporation of India

New Delhi is looking to privatise flagship carrier Shipping Corporation of India’s (SCI) as part of a wider privatisation program for a number of key state assets.

The government has a 63.75% stake in the shipping line, which has a diverse fleet of 64 ships as well as significant real estate holdings in Mumbai.

The privatisation plans still need approval from the central cabinet before any sales process gets underway.

SCI was founded on this day 58 years ago by the merger of Eastern Shipping Corporation and Western Shipping Corporation. It currently owns a fleet of 64 vessels made up of 15 bulkers, 22 tankers, two containerships, four gas ships and 10 OSVs.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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